Sales and profit rise for Dutch electronics giant Philips

Dutch electronics giant Philips says its fourth quarter sales rose 3 percent to 7.2 billion euros ($7.7 billion) from the same period a year ago, driven by a strong performance in its health technology operations.

The company announced Tuesday that its net profit soared to 640 million euros ($687 million), compared with a net loss of 39 million euros in the fourth quarter of 2015, when it paid off pension risks and had higher tax and other expenses.